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Profits haven’t contributed to inflation? Former treasury economist says it’s not that simple

Profits haven’t contributed to inflation? Former treasury economist says it’s not that simple

Is the argument finally settled? Last week, the Reserve Bank made another intervention in the bitter dispute about profits and inflation. In its latest Statement on Monetary Policy, released on Friday, it dedicated a special chapter to the topic. The chapter was titled Have business profits contributed to inflation?, and it concluded that excessive profit-taking hasn’t been driving Australia’s inflation....